You are on page 1of 2

[ Home The Evil Knievil Diaries 19th April 2013 ]

19th April 2013


Today (2013-04-19 09:41:12) Print this Article Evil discusses insanity, shareholders disclosures, Churchill Mining, Rich Ricci and the races... Markets: Breakeven Sports: Minus 10,000 Thought for the day: Training success I have a had a number of accounts at a major private client firm of stockbrokers for twenty plus years. I invested in Baillie Gifford Shinbun (BGS) as a result of comments provided by their Japan investment trust specialist. A few weeks later I decided to put 100,000 into Japanese investment trust warrants on the basis that I wished to take a strong view on this sector. So I asked to speak to the specialist. I was refused on the grounds that I am an execution only client. I hasten to add that there is not and could not be the faintest chance that I would hold this individual responsible for an adverse result in my books. I still cannot speak to this individual. The compliance department so insist. Would I waste his time? No chance. Am I inexperienced in the matter of warrants? Not even remotely. I am now merely told that there is no explanation to hand for this firm's conduct. Some years ago when subscribing for new using funds held at this same firm, I was averaged down to my disadvantage at the insistence of a compliance officer who refused to explain the basis or law behind the decision. She cited the FSA. But no explanation was offered. Just what is going on? For it seems to me to be institutionalised insanity. I have written to the LSE asking for an improved disclosure regime on shareholdings. The problem is that such RNS's are nearly impossible to read easily. Even a partner at Slaughter and May tells me that he finds it difficult. I smell deliberate obfuscation on the part of the authorities. I shorted Churchill (CHL) at 21p since it has been put to me that there is circa 4m cash as against a capitalisation of 30m. The gap is reckoned by some to be a claim against the Indonesian government in relation to mining licences. The difficulty here is that Churchill have already lost in the court of first instance - in Indonesia I hasten to add - and now seeks to appeal in the same jurisdiction against the Indonesian government. No chance. I am told that things come to a head in mid May.

Rich Ricci has got the sack from Barclays. He has done nothing wrong - not even by merely growing older. He is simply being sacked ritually. This is a new feature of commercial life induced by childish prole apparatchiks masquerading as politicians. Finally, the editor tells me that he is off to Newbury races this morning. This shows that the years of instruction and training I have been subtly offering him have paid off. Bullish: Strategic Minerals, Juridica, Cadiz, Source Bioscience, Helphire, Orosur Mining, Chaarat Gold, Leni Gas & Oil, Bowleven, Plethora Solutions, FastJet, Orsu, Xcite Energy. Bearish: Churchill Mining, CPP, Cupid, Asos, Dolphin Capital, Quindell Portfolio, Mulberry, Noventa, WANdisco, Rare Earth's Global, Range Resources, Ocado. * Evil's bullish and bearish list contains companies/investments he has commented on in this article in the past four weeks. It is not a comprehensive list of Evil's current positions. Evil may exit a position at any time without commenting. WANdisco, Quindell and Avesco are corporate clients of Rivington Street Holdings, the owner of this website.

You might also like